Storrie - Pompey deal close

17 May 2009 12:29

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Portsmouth supremo Peter Storrie says he is in advanced talks to sell the club - and there will not be a fire-sale of players this summer.
The Fratton Park chairman says there are two interested parties looking to take over the club from owner Sasha Gaydamak.
He believes a deal will be done and dusted by the start of July and he is optimistic about the future.
Storrie told the News of the World: "I am in advanced talks (to sell the club) with two interested parties and believe a deal will be struck by the start of July.
"That's when the transfer window opens and that's when we will need to know what money we have to prepare for next season. So I am optimistic about the club's future.
"I have heard all the doom and gloom stories about us being loaded with a mountain of debt which will mean we have to have a fire-sale of players in the summer. But I am telling you that's absolute rubbish.
"Sasha has been very open and honest about this. He made it clear earlier in the season that he would not continue to invest in the club and that he wanted to sell.
"And I can tell you he will lose a lot of money when he does complete the sale of the club - money that would make most people wince.
"But he is prepared to do that because he is so concerned about the long-term future of this club."
Reports suggest Gaydamak will take a £30million hit when he offloads the club, including £16million in personal loans which he is owned by Portsmouth.
Storrie added: "My role for most of the season has been trying to cut costs and I have managed to do that, from facing a £16m loss to a point where I believe we will now break even.
"That is some achievement in itself and, obviously, makes Portsmouth a more attractive proposition to potential investors. The other advantage is that all the debt is the personal debt of the owner Sasha Gaydamak, not the club.
"And Sasha is very generously and courageously dealing with that debt himself."